Monday, March 7, 2011

Nifty Trading Levels : Market Forecast for 8 March 2011

On the back of geo-political concern, rising oil prices and domestic political turmoil, the market today opened on a weak note. The S&P CNX Nifty closed at 5463.15, down -75.60 points or -1.36 %.

The NSE Nifty recovered from a low of 5400, to close at 5482.45 down -0.97 %, or -53.50 points. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5622 above this level it would be in a bullish trend else below 5375 it might face more selling pressure.

RESISTANCE: It has first resistance close to the level of 5622 & above this level the next resistance is seen near the 5715 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5335 mark.


Posted By Commodity MCX Tips